In Thailand, the market was quiet this week, even though exporters had reduced their prices early in the week in a bid to lure back buyers.

"We had a few buyers in the market, but other than that, the market was very quiet," said one exporter.

The exporter said the government is expected to release some of the stocks it has accumulated from its paddy support program next month. Prices are likely to fall sharply if this takes place, the exporter said.

"We hope that would make Thai varieties more competitive than Vietnamese rice. Besides, our rice is of better quality compared with Vietnamese rice," he added.

Thai 100% B grade was offered Friday at $291-$292 a metric ton, FOB Bangkok, and 5% broken at $282-$285/ton, while parboiled 100% sortexed was offered at $286-$294/ton. These prices were unchanged from Thursday.

In Vietnam, prices were unchanged on limited trading activity in the market.

But prices are likely to fall next week, as farmers will start harvesting a new crop.

"Farmers have been unloading their old stocks, and with the arrival of a new crop, prices could go down," said one exporter.

Vietnam's 5% broken was offered at $235-$240/ton, FOB Ho Chi Minh City, while 25% broken was quoted at $222-$228/ton. These prices were unchanged from Thursday.